This template purchase agreement is intended for use in a residential transaction in Minnesota. It should not be used in contract for deed transactions, which require additional terms, disclosures, and parties' obligations. This template includes practical guidance, drafting notes, alternate clauses, and optional clauses. This purchase agreement provides the buyer with the ability to conduct customary due diligence and to cancel the agreement prior to the expiration of the due diligence period if not satisfied for any reason. This purchase agreement is suggested for use in Minnesota, however local counsel should be engaged to ensure that all necessary state specific requirements are met and that the purchase agreement complies with Minnesota law in all regards. This agreement should not be used for new home purchases because it does not include statutorily-required warranties and dispute resolution provisions. If the seller is subject to statutory "multiple seller" obligations, additional requirements may apply which are beyond the scope of this template. See Purchase and Sale of Residential Real Property (MN).